Nothing is Too Big to Fail: How the Last Financial Crisis Informs Today

Summary

In 2008, the American economy collapsed, taking with it millions of Americans' jobs, homes, and life savings. The impending financial crisis was devastating, and many are still feeling its effects today.

Though the crisis was debilitating, the US government has yet to implement policies that would prevent a repeat of the Great Recession. The middle class continues to shrink, escalations in racial injustices prevail, and distrust of the government grows by the day. And with the country's current fiscal policies, our economy is in a fragile place, barely strong enough to survive a shock caused by an international conflict, a cyberattack, or a global pandemic, like COVID-19.

Nothing Is Too Big to Fail holds a microscope to the very policies and corruption that led to this major economic recession. Authors Kerry and Linda Killinger warn that, without significant institutional change, the country has created asset and debt bubbles that could burst at any time.

No institution, government, or country is "too big to fail." But by learning from our past mistakes and taking action, we can return our country's economic system—and in turn, our democracy—to one that is secure.